Osborne Partners Capital Management LLC Takes $292,000 Position in Atlassian Co. (NASDAQ:TEAM)

Osborne Partners Capital Management LLC purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,201 shares of the technology company’s stock, valued at approximately $292,000.

A number of other institutional investors have also recently bought and sold shares of TEAM. Virtu Financial LLC acquired a new position in shares of Atlassian in the third quarter worth about $606,000. Sequoia Financial Advisors LLC boosted its stake in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the period. Fulton Bank N.A. acquired a new position in Atlassian in the 4th quarter worth approximately $447,000. Paloma Partners Management Co purchased a new position in Atlassian during the 3rd quarter worth approximately $1,588,000. Finally, Impax Asset Management Group plc raised its stake in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84. Following the completion of the transaction, the chief executive officer now owns 294,076 shares of the company’s stock, valued at approximately $65,970,069.08. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,208 shares of company stock worth $63,572,404 over the last three months. 38.55% of the stock is currently owned by insiders.

Atlassian Trading Up 14.9 %

Shares of TEAM opened at $306.78 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a one year low of $135.29 and a one year high of $324.37. The company’s fifty day moving average price is $260.51 and its 200 day moving average price is $208.44.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. Equities research analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Raymond James reiterated an “outperform” rating and set a $330.00 price target (up previously from $250.00) on shares of Atlassian in a report on Friday. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday. Finally, Robert W. Baird upped their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.00.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.